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The Financial Express

Raising benefits of non-pensionable jobs

| Updated: October 22, 2017 18:22:10


Raising benefits of non-pensionable jobs

MANY of my friends and colleagues retired from sector corporation jobs which were non-pensionable in 1988-1989 before the new Pay Commission came into effect in 1990. Prior to taking effect of the new Pay Commission, the total compensation after retirement in the form of gratuity, leave pay, provident fund etc. amounted to hardly Taka 600 to 800 thousands as one of my colleagues got 800 thousand Taka when his last pay was Tk 5,700 per month against Tk 6,000 per month paid at the time to topmost government servants. Most of my colleagues and myself invested the money in ICB unit funds, savings certificates and real estates. I could earn around Tk 100 thousand as dividend from 4,000 ICB units in 1988-1989 and this dividend comes down to Tk 50,000 after the fall of the Ershad government. How to accept such disaster? 
I built a two-storied house and till date I am staying there but the monthly house rent I receive is Tk 25,000. But I could raise it by Tk 1000 per month after the recent pay rise. The income from savings certificates is decreasing while the prices of essentials and utility services are increasing. In this context the government should provide support in whatever way it feels. In many parts of the world benefits given are recalculated in the context of ability to pay by the authority.  
Mahmud Ali
138 New Eskaton Road
Dhaka-1000
 

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